Last week Lincare reported revenues of $415.1 million for the fourth quarter ended Dec. 31, a 1 percent increase over $412.3 million for the same quarter in 2007. Net income was $58.2 million compared to $57.6 million. Revenues for 2008 were $1.665 billion, a 4 percent increase over $1.596 billion in 2007. Net income was $237.2 million compared to $226.1 million. The Clearwater, Fla.-based provider added 14 new operating centers in the fourth quarter, with 11 from internal expansion and three from acquisitions. For the year, it added 44 centers, bringing its total number of locations to 1,063.

As for 2009, while the company said it it still evaluating the potential impact of Medicare reimbursement changes, it estimated revenues and operating income this year "will be negatively impacted by approximately $240 million to $255 million." That includes $110 million resulting from the 9.5 percent cut for products inititially included in Round One of competitive bidding and additional reductions for stationary oxygen equipment of approximately 2.5 percent contained in CMS' 2009 fee schedule. The estimate also includes $130 million to $145 million in reductions related to the 36-month oxygen cap.